Here’s a breakdown of the WTI Crude Oil (USOIL) 4-hour chart
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WTI Oil 4H NEW FORECAST
Key Levels
Resistance Areas (~73.00 - 75.00):
The price is approaching a key resistance zone (highlighted in green).
If it breaks above 72.00, it could continue higher.
Pivot Level (~70.50):
This acted as a key decision point, with price bouncing above it.
✅ Bullish Case:
If the price breaks above 73.00, it could move toward the 75.00 resistance.
A strong close above resistance confirms bullish momentum.
❌ Bearish Case:
If the price rejects at resistance (~73.00), it could drop back toward 70.50 or lower.
A break below 70.50 might indicate a continuation of the previous downtrend.
WTI Oil 4H NEW FORECAST
Key Levels
Resistance Areas (~73.00 - 75.00):
The price is approaching a key resistance zone (highlighted in green).
If it breaks above 72.00, it could continue higher.
Pivot Level (~70.50):
This acted as a key decision point, with price bouncing above it.
✅ Bullish Case:
If the price breaks above 73.00, it could move toward the 75.00 resistance.
A strong close above resistance confirms bullish momentum.
❌ Bearish Case:
If the price rejects at resistance (~73.00), it could drop back toward 70.50 or lower.
A break below 70.50 might indicate a continuation of the previous downtrend.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.